Russian Railways Management Board

The Company’s Management Board handles the general management of business operations as the collective executive body (except for the resolution of matters that fall within the purview of the General Meeting of Shareholders and the president according to Federal Law No. 208-FZ dated 26 December 1995 ‘On Joint-Stock Companies’ and the Company Charter unless otherwise specified by the Charter).

The main tasks of the Company’s Management Board include preparing proposals on the Company’s business strategy, implementing its financial and business policy, formulating decisions on the most important issues concerning its day-to-day business operations and coordinating the work of its divisions, improving the efficiency of the internal control and risk monitoring systems and ensuring the observance of the rights and legitimate interests of shareholders.

The Company’s Management Board carries out its activities in accordance with the legislation of the Russian Federation, the Company Charter, the resolutions of the General Meeting of Shareholders and the Board of Directors, the Regulation on the Russian Railways Management Board and the Company’s internal documents.

The Management Board acts in the Company’s interests and is accountable to the Company’s General Meeting of Shareholders and the Board of Directors.

The purview of the Company’s Management Board includes the following matters:

the preparation and submission to the Board of Directors of the Company’s business priorities and long-term plans for their implementation, including the Company’s annual budgets and Investment Programme, the preparation of reports on their implementation for the Board of Directors as well as preparing and approving the current business plans;

the approval of internal estimated tariffs, fees and payments for work (services) performed (rendered) by the Company that are not related to natural monopolies;

the approval of rules that ensure the proper organisation and reliability of accounting at the Company and the timely submission of the annual report and other financial reporting to the relevant bodies as well as information about the Company’s operations to shareholders, creditors and the media;

the submission to the Board of Directors of prospectuses for the issuance of securities and other documents related to the issuance of the Company’s securities;

organising the fulfilment of the Company’s long-term and current plans and implementing the Company’s investment, financial and other projects;

establishing the procedure for taking into account the Company’s affiliates;

considering and coordinating draft collective bargaining agreements at the Company and regulations on industry-wide private pension support, mandatory pension insurance, professional pension insurance and an industry-wide tariff agreement on railway transportation as well as submitting them to the Company’s president for signing;

establishing the procedure for shareholders to review information about the Company;

establishing a remuneration system and determining measures to motivate Company employees;

issuing binding instructions to subsidiaries on matters specified in the charters of these companies or in agreements which the Company has concluded with them;

approving the Company’s internal documents on matters that fall within the purview of the Management Board;

resolving other matters related to the Company’s current operations that are submitted for consideration by the chairman of the Management Board, the Board of Directors or shareholders.

Members of the Russian Railways Management Board

No.

Name

Position

1

Oleg Belozerov

President

2

Anatoly Krasnoshchek

First Vice President

3

Alexander Misharin

First Vice President

4

Gennady Verkhovykh

Senior Vice President – Director of the Central Infrastructure Directorate

5

Valentin Gapanovich

Senior Vice President

6

Sergey Maltsev

Senior Vice President

7

Vadim Mikhailov

Senior Vice President

8

Mikhail Akulov

Vice President

9

Salman Babayev

Vice President – CEO of the Centre for Corporate Transportation Service

10

Oleg Valinsky

Vice President – Director of the Traction Directorate

11

Pavel Ivanov

Vice President – Director of the Central Traffic Control Directorate

12

Pyotr Kaptsev

Vice President – Director of the Moscow Transport Hub Development Centre